Glacier FarmMedia MarketsFarm – The ICE Futures canola market continued its ongoing slide on Thursday amid mixed sentiment in comparable oils.
Chicago soyoil and Malaysian palm oil were both higher in the middle of trading. However, European rapeseed and crude oil were lower, despite the latter being affected by tensions in the Middle East.
The Canadian dollar was steady compared to Wednesday’s close.
One analyst said that weakness in vegetable oils and heavy rains in South America could cause canola to “wave goodbye” to the C$650 per tonne mark.
About 14,000 contracts have traded at 10:16 CST. Prices in Canadian dollars per metric tonne:
Price Change
Mar 634.00 dn 7.90
May 642.10 dn 7.70
Jul 648.10 dn 7.90
Nov 647.10 dn 8.40
